Iriver and LG Display have announced a joint partnership to compete in the growing eReader market. The Korean-based companies will set up L&I Electronic Technology (Dongguan) Ltd in China to work in original equipment manufacturing and original development manufacturing, meaning L&I won’t be releasing devices, just partnering with other brands to manufacture eBook readers.
Iriver, best known for their MP3 players, will be responsible for product design and platform development, while LG Display, will work on the electronic paper displays. LG display will have 51 percent of the venture, while Iriver will have 49%. The two started the venture partnership with initial equity capital of $5 million.
LG Display Executive Vice President, Mr. Eddie Yeo claimed his company “will utilize its advanced EPD technologies to achieve early commercial production of color and flexible EPD and reach the global No.1 position by 2012.”
While there is no word on when well see the first devices released, the companies announced Iriver will be their first customer, so expect an Iriver eReader in the near future.